Rio Tinto Group (LON:RIO) Price Target Lowered to GBX 6,100 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Rio Tinto Group from GBX 6,170 to GBX 6,100, maintaining an "overweight" rating, which suggests an expected upside of 18.65% from the current price.
• In addition to JPMorgan, other analysts have made significant adjustments, with Deutsche Bank cutting its rating to "hold" and lowering the price target from GBX 5,300 to GBX 5,100.
• The consensus rating for Rio Tinto Group is currently a "Moderate Buy," with an average price target of approximately GBX 5,516.67, reflecting diverse opinions among analysts.

Rio Tinto Group (LON:RIO - Get Free Report) had its target price dropped by JPMorgan Chase & Co. from GBX 6,170 to GBX 6,100 in a research note issued on Wednesday,Digital Look reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 18.65% from the stock's current price.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Rio Tinto Group to a "hold" rating and reduced their price objective for the company from GBX 5,300 to GBX 5,100 in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Berenberg Bank lifted their price objective on shares of Rio Tinto Group from GBX 4,700 to GBX 5,200 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,516.67.

Rio Tinto Group Trading Up 1.2%

LON RIO traded up GBX 59 during trading on Wednesday, hitting GBX 5,141. The stock had a trading volume of 1,955,412 shares, compared to its average volume of 4,998,786. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The company has a market capitalization of £83.53 billion, a PE ratio of 818.76, a PEG ratio of -0.64 and a beta of 0.59. The firm has a 50 day moving average price of GBX 4,697.51 and a 200 day moving average price of GBX 4,525.16. Rio Tinto Group has a twelve month low of GBX 4,024.50 and a twelve month high of GBX 5,240.

About Rio Tinto Group

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero.

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